Supply Chain Management Flashcards

Flashcards for reviewing key concepts in Supply Chain Management.

Supply Chain Design

Reflects the structure of the supply chain over the next several years.

What does Supply Chain Planning start with?

Supply Chain Planning starts with a demand forecast for the coming year.

Supply Chain Operations

Focuses on individual customer orders during this phase.

INTERNAL SUPPLY CHAIN

The part of the supply chain that happens inside the company itself.

TURF WAR

What happens when departments only care about their own goals, and not working as a team?

PROCESS MAP

A map that helps everyone understand the steps of the whole process of the supply chain.

EXTERNAL SUPPLY CHAIN

Involves other companies like suppliers of raw materials or customers who buy the products.

PUSH PROCESS

A type of supply chain process view where the company produces or prepares the products before the customers order them.

PULL PROCESS

A type of supply chain process view where the company only produces a product after the customer orders it.

Supply Chain Management

Involves proactively managing the two-way movement and coordination of goods, services, information, and funds from raw material through the end user.

The advantage of single sourcing strategy is to Improved communication from the close buyer-seller relationship. True or False?

True

One of the advantage of single sourcing strategy in buyers perspective is Quality considerations. True or False?

False

Pull Process is the type of supply chain process view where the company only produces or after a customer orders a product. True or False?

True

In push process, the company waits for the demand first before making the product. True or False?

False

The Purchasing Department is the one who orders the materials needed for the product. True or False?

True

In the supply chain, product development is assigned to plan and design the product. True or False?

True

The Sales Department is assigned to receive the customer's order. True or False?

True

In the planning phase, companies define a set of operating policies that govern long-term operations. True or False?

False

The Production plan serves as a broad blueprint for operations and establishes the parameters within which short-term production and distribution decisions are made. True or False?

False

Production plan allows the supply chain to alter capacity allocations and change supply contracts. True or False?

False

Which type of supply chain process view where the company only produces after a customer orders a product?

Pull Process

Which department in the supply chain orders the materials needed for the product?

Purchasing Department

Which department is assigned to plan and design the product?

Product Development

What serves as a broad blueprint for operations and establishes the parameters within which short-term production and distribution decisions are made?

Aggregate Planning

Which sourcing strategy is characterized by engaging with several different suppliers for the same type of goods or services?

Multi-Sourcing Strategy

A company that aims to develop strong partnerships and mutual benefits with a limited number of suppliers is likely employing which strategy?

Single Sourcing Strategy

The concept of leveraging a web of interconnected suppliers, often sharing information and resources, best describes:

Network Sourcing Strategy

Which of the following is a potential advantage of a multi-sourcing strategy?

Reduced risk of supply disruption

Which of the following is NOT a sourcing strategy?

Inventory Management

A company with a _ is one that recognizes the strategic value of managing operational activities and flows across a supply chain.

Supply Chain Orientation